Maryland State Retirement & Pension System Invests $1.64 Million in JBT Marel Corporation $JBTM

Key Points

• The Maryland State Retirement & Pension System invested $1.64 million in JBT Marel Corporation by acquiring 13,593 shares during the second quarter.
• JBT Marel has a market cap of $7.01 billion and currently has a consensus rating of "Moderate Buy" with a target price of $156.00 from analysts.
• The company recently declared a quarterly dividend of $0.10, resulting in an annual yield of 0.3%.

Maryland State Retirement & Pension System acquired a new position in shares of JBT Marel Corporation (NYSE:JBTM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,593 shares of the company's stock, valued at approximately $1,635,000.

Other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp bought a new stake in JBT Marel in the 2nd quarter valued at approximately $50,000. Public Employees Retirement System of Ohio acquired a new stake in shares of JBT Marel in the second quarter valued at approximately $63,000. Hilltop National Bank bought a new position in JBT Marel in the second quarter valued at $89,000. Sage Rhino Capital LLC bought a new position in JBT Marel in the second quarter valued at $208,000. Finally, Janney Montgomery Scott LLC bought a new position in JBT Marel in the second quarter valued at $272,000. Institutional investors own 98.92% of the company's stock.

Wall Street Analysts Forecast Growth

JBTM has been the subject of a number of recent research reports. Robert W. Baird set a $169.00 price objective on shares of JBT Marel in a research note on Friday, October 3rd. Weiss Ratings reiterated a "hold (c-)" rating on shares of JBT Marel in a report on Wednesday. Finally, William Blair raised JBT Marel from a "market perform" rating to an "outperform" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, JBT Marel currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.00.

JBT Marel Price Performance

Shares of NYSE JBTM opened at $134.96 on Friday. The business's 50 day moving average price is $140.01 and its two-hundred day moving average price is $124.86. The company has a market cap of $7.01 billion, a PE ratio of -58.93, a price-to-earnings-growth ratio of 1.89 and a beta of 1.21. The company has a quick ratio of 0.53, a current ratio of 0.93 and a debt-to-equity ratio of 0.35. JBT Marel Corporation has a twelve month low of $90.08 and a twelve month high of $148.76.

JBT Marel (NYSE:JBTM - Get Free Report) last issued its earnings results on Tuesday, February 22nd. The company reported $1.02 EPS for the quarter. The company had revenue of $439.40 million during the quarter. JBT Marel had a positive return on equity of 7.96% and a negative net margin of 5.08%. On average, analysts predict that JBT Marel Corporation will post 5.21 EPS for the current year.

JBT Marel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 18th were paid a $0.10 dividend. The ex-dividend date was Monday, August 18th. This represents a $0.40 dividend on an annualized basis and a yield of 0.3%. JBT Marel's dividend payout ratio is -17.47%.

About JBT Marel

JBT Marel Corporation provides technology solutions to food and beverage industry in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers value-added processing that includes chilling, mixing/grinding, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, and packaging solutions to the food, beverage, and health market.

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